Thailand Stocks: LPN, MBK, Siam Commercial Bank, Thai Airways

By Anuchit Nguyen -
Jul 19, 2010

Thailand’s SET Index (SET) rose for a
fourth day, climbing 2.86, or 0.4 percent, to close at 830.40,
the highest level since May 30, 2008.

LPN Development Pcl (LPN) , Thailand’s largest non-state
condominium developer, rose 2 percent to a record 10.2 baht. The
company had its share-price forecast raised to 12 baht from 10
baht at Bualuang Securities Pcl, which said the company will
report the “strongest profit growth” compared with its
competitors.

MBK Pcl (MBK) , a Thai operator of shopping malls,
climbed 7.2 percent to 96.5 baht, a record close. The company
last week sold 3 billion baht of three-year bonds with a coupon
rate of 3 percent, it said in a regulatory filing.

Siam Commercial Bank Pcl (SCB) , the country’s fourth-biggest lender by assets, fell 0.9 percent to 84 baht, the most
in two weeks. The bank was downgraded to “neutral” from
“outperform” by CIMB-GK Securities analyst Kasem Prunratanamala.

Thai Airways International Pcl (THAI) , the country’s
largest carrier, fell 2.3 percent to 32 baht, the first decline
in three days. The airline will borrow 8 billion baht ($247.7
million) from Siam Commercial Bank to fund its expansion, the
commercial lender said in an emailed statement today. The loan
will mature in seven years, it said.